How Does Digital Finance Affect Carbon Emissions? Evidence from an Emerging Market

The existing literature finds that finance has a significant impact on carbon emissions, but there is a lack of theoretical explanation on whether and how digital finance, an important new financial form, affects carbon emissions. This paper uses balanced panel data at the provincial level in China...

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Autores principales:	Hui Zhao, Yaru Yang, Ning Li, Desheng Liu, Hui Li
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	digital finance carbon emission policy guidance location difference Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/74dd1d3bd1be47faa809f4bd7f207241
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id	oai:doaj.org-article:74dd1d3bd1be47faa809f4bd7f207241
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spelling	oai:doaj.org-article:74dd1d3bd1be47faa809f4bd7f2072412021-11-11T19:50:54ZHow Does Digital Finance Affect Carbon Emissions? Evidence from an Emerging Market10.3390/su1321123032071-1050https://doaj.org/article/74dd1d3bd1be47faa809f4bd7f2072412021-11-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/21/12303https://doaj.org/toc/2071-1050The existing literature finds that finance has a significant impact on carbon emissions, but there is a lack of theoretical explanation on whether and how digital finance, an important new financial form, affects carbon emissions. This paper uses balanced panel data at the provincial level in China from 2011 to 2018 as a sample to empirically test the relationship between digital finance and carbon emissions and introduces three exogenous events to test the impact of policy shocks. The results show that digital finance has a significant inhibitory effect on carbon emissions; the implementation of the policies of ‘G20 High-Level Principles for Digital Financial Inclusion’, ‘Environmental Protection Tax Law of the People’s Republic of China’, and ‘Interim measures for the management of greenhouse gas voluntary emission reduction’ strengthens the suppression of carbon emissions by digital finance, and the robustness test also supports the protection of digital finance. The research conclusions of this article provide theoretical evidence for understanding the relationship between digital finance and other new financial formats and carbon emissions and provide an empirical basis for policy-makers to promote the development of digital finance to reduce carbon emissions.Hui ZhaoYaru YangNing LiDesheng LiuHui LiMDPI AGarticledigital financecarbon emissionpolicy guidancelocation differenceEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 12303, p 12303 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	digital finance carbon emission policy guidance location difference Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	digital finance carbon emission policy guidance location difference Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Hui Zhao Yaru Yang Ning Li Desheng Liu Hui Li How Does Digital Finance Affect Carbon Emissions? Evidence from an Emerging Market
description	The existing literature finds that finance has a significant impact on carbon emissions, but there is a lack of theoretical explanation on whether and how digital finance, an important new financial form, affects carbon emissions. This paper uses balanced panel data at the provincial level in China from 2011 to 2018 as a sample to empirically test the relationship between digital finance and carbon emissions and introduces three exogenous events to test the impact of policy shocks. The results show that digital finance has a significant inhibitory effect on carbon emissions; the implementation of the policies of ‘G20 High-Level Principles for Digital Financial Inclusion’, ‘Environmental Protection Tax Law of the People’s Republic of China’, and ‘Interim measures for the management of greenhouse gas voluntary emission reduction’ strengthens the suppression of carbon emissions by digital finance, and the robustness test also supports the protection of digital finance. The research conclusions of this article provide theoretical evidence for understanding the relationship between digital finance and other new financial formats and carbon emissions and provide an empirical basis for policy-makers to promote the development of digital finance to reduce carbon emissions.
format	article
author	Hui Zhao Yaru Yang Ning Li Desheng Liu Hui Li
author_facet	Hui Zhao Yaru Yang Ning Li Desheng Liu Hui Li
author_sort	Hui Zhao
title	How Does Digital Finance Affect Carbon Emissions? Evidence from an Emerging Market
title_short	How Does Digital Finance Affect Carbon Emissions? Evidence from an Emerging Market
title_full	How Does Digital Finance Affect Carbon Emissions? Evidence from an Emerging Market
title_fullStr	How Does Digital Finance Affect Carbon Emissions? Evidence from an Emerging Market
title_full_unstemmed	How Does Digital Finance Affect Carbon Emissions? Evidence from an Emerging Market
title_sort	how does digital finance affect carbon emissions? evidence from an emerging market
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/74dd1d3bd1be47faa809f4bd7f207241
work_keys_str_mv	AT huizhao howdoesdigitalfinanceaffectcarbonemissionsevidencefromanemergingmarket AT yaruyang howdoesdigitalfinanceaffectcarbonemissionsevidencefromanemergingmarket AT ningli howdoesdigitalfinanceaffectcarbonemissionsevidencefromanemergingmarket AT deshengliu howdoesdigitalfinanceaffectcarbonemissionsevidencefromanemergingmarket AT huili howdoesdigitalfinanceaffectcarbonemissionsevidencefromanemergingmarket
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How Does Digital Finance Affect Carbon Emissions? Evidence from an Emerging Market

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